The secret owners of thousands of British businesses will be exposed to the public today under a transparency drive launched by David Cameron.

The Prime Minister is due to say that a “cloak of secrecy” surrounding British corporate ownership has resulted in “questionable practice and downright illegality”. He will announce plans for the first public register of the true owners behind anonymous “shell” companies, which have been associated with tax evasion.

It came as Lord Lawson of Blaby, the former Chancellor, accused the Government of “prancing around” rather than making changes to reduce tax avoidance by multinationals. Lord Lawson called